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Q. A firm has subsequent short-run production function:
Q=50L+6L^2-0.5L^3 Q=quality of output per week L= number of worker
a. When dose the law of diminishing returns take effect?
b. Compute the wage of the values for labor over which stage I, II also III occurs.
C. Assume each worker is paid $10 per hour also works a 40-hours week. Elucidate how many workers should the firm hire if the price of the output is $ 10? Assume the price of the output falls to $7.50.Illustrate what do you think would be the short-run impact on the firm's production? The long-run impact?
The average price of red stubble is about $8 per kilo also the fisher people's revenues for catching red stubble immediately cover their costs.
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If Michael is spending all of his money on these 2 snacks which he purchase more chips also less ice cream as well as purchase less chips.
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Illustrate we know about the effects of mandatory seat belt laws, which of the following groups would be most likely to mount a campaign to repeal those laws.
Either design will serve equally well and will involve the same material and manufacturing costs excluding the lathe as well as drilling operations.
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The market for autographs including letters o other documents signed by famous people is subject to frequent large price changes as are markets for most collectables.
explain why an increase in the wage rate for autoworkers will generate more of a negative employment response in the long run than in the short run
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